Search and rescue members are combing Mount Bogong in Victoria for clues to the whereabouts of two missing snowboarders.

Inspector Dave Ryan from Wangaratta police said conditions were good for the search, and police believed the men hadn't gone too far from Mitchell Hut, where their abandoned campsite was found on Sunday morning.

"There is some avalanche indications in the area," Ryan told Fairfax Radio. "We're concentrating in and around those sites today.

"For us today it's essentially line searching, trying to pick up any sort of clues out along the bottom of those slopes, trying to figure out if these guys have managed to walk themselves out into the tree line."

Martin Buckland, 33, from Yarra Junction, and Daniel Kerr, 32, from Hawthorn, failed to return to Melbourne on Saturday from their snowboarding trip to the Eskdale Spur area.

Their families reported them missing on Saturday night and, while not giving up hope that they would be found safe, have said they are not naive to the possibilities of what might have happened to the two friends.

"Our families want to stress how experienced and prepared Martie and Daniel were for this trip, keenly aware of both the risks and the unpredictable nature the outdoors offer," they said in a statement.

"Their local knowledge of Mount Bogong and the surrounds, combined with their equipment and experience just adds to the frustration of dealing with their disappearance."

The statement, released by Buckland's wife and Kerr's parents, said the pair had been great friends since they met at high school, both worked in sport and recreational professions and "live and breath the outdoors having been on many adventures such as this in the past".

Police believe the men have an emergency position radio beacon, but have not activated the alarm.

The men were in contact with their families on Thursday, speaking via mobile phone and sending a photograph of their camp at Mitchell Hut, but have not made contact since.

A group of walkers came across their campsite on Sunday and found an empty tent containing sleeping bags and other equipment.